Technical Update - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla Technical Update - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla Technical Update - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla

Technical Update - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla

Equities 5 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Summary:  Alphabet establishing uptrend?
Amazon breaking bullish
Apple struggling to maintain upside momentum
Meta confirming bullish picture
Microsoft stalling. Continuing the Bullish trend or reversal?
Nvidia on the verge of breaking bullish, but will it?
Tesla could be breaking deadlock and built bullish trend


Alphabet C (Google) is trying to establish an uptrend short-term. If closing above 141.10 and if RSI is closing back above 60 threshold that scenario is to playout.
If that scenario plays out there is upside potential to previous all-time high around 151.8, possibly higher.

If Closing below 129.40 the possible uptrend scenario is shattered and Alphabet could slide lower 
goog d 1912
Source all charts and data: Saxo Group
goog w 1912

Amazon closed Frida above resistance at around 149.26 thus breaking bullish out of its Ascending triangle.
The top and reversal pattern formed in November and the RSI divergence now cancelled.

Amazon seems et for higher levels with no strong resistance until around 167.50.

Weekly chart is close to cancel its RSI divergence, an RSI close above 73.33 will do just that. If that occurs there is further upside potential for Amazon on the medium-term time frame

If 167.50 is broken Amazon could move to test its all-time highs at around 188.65.

To demolish the bullish scenario a close below 140 is needed
amzn d 1912
amzn w 1912

Apple seems struggling at maintaining upside momentum. Three attempts at closing above all-time highs 198.23 has so far failed. A Doji Evening like pattern has formed indicating top and reversal. (Ideally the candle formed Friday last week should have been a full bearish red candle)
RSI divergence is supporting the view of a trend exhaustion

To regain momentum and cancel RSI divergence a share price close above 199.62 is needed and followed by an RSI close above its horizontal dashed line at 73.13.

Weekly chart RSI is showing massive divergence indicating the current uptrend is exhausting.

A close above 199.62 could fuel a rally to around 210 level
A close below 187.45 is likely to resulting in a bearish to establishing
aapl d 1912
aapl w 1912

Meta Platforms closed higher above 342.92 confirming the bullish trend.
RSI closed back above 60 threshold adding to the bullish picture. A test of resistance at around 353.65 and the 1.382 projection of the latest correction at 354.10 seems quite likely.

A close above 353.65 is paving the way to all-time highs at around 384.33. If the weekly RSI is closing above its falling trendline it would be a good indication this bullish scenario will play out
To reverse this scenario a close below 313.65 is needed
meta d 1912
meta w 1912

Microsoft is in a bit of a limbo. A close low 362.90 could fuel a sell-off down to 350-340.

A close above 378 is likely to resume uptrend. If RSI is closing back above 60 threshold it will confirm that scenario.

A close above 384.30 will further confirm the bullish picture also on medium-term.
Medium-term the uptrend is intact but there is RSI divergence indicating trend exhaustion. If RSI closing above 74.78 the divergence will be cancelled supporting higher Microsoft share prices
msft d 1912
msft w 1912

Nvidia is likely to confirm bullish trend. A close above 505.48 will do just that. Daily RSI is back above 60 threshold strongly indicating that is the scenario to play out.

If that scenario plays out Nvidia will have broken bullish out of its sideways range – see weekly chart - with potential to 560 - 600.
The RSI divergence on the weekly chart is a bit of a warning signal. However, RSI is above 60 indicating the bullish trend is to resume

A close below 450 will likely establish a bearish trend short-term. A close below 392 will establish a Medium-term bearish trend
nvda d 1912
nvda w 1912

Tesla has broken above its upper falling trendline and _RSI is above 60 indicating short-term upside potential to 279.50 resistance level.

Medium-term the trend is still bearish with Tesla testing the upper falling trendline. If the weekly RSI can close back above 60 Tesla is likely to trade higher. A weekly close above 279 will confirm medium-term bullish trend ahs been established.

Strong resistance at around 313.61 could be a hard nut to crack. But a close above 313.61 could fuel a buying towards 385-415

A close below 225.95 will demolish the short-term bullish trend. A close below 219.90 will confirm bearish trend medium-term
tsla d 1912
tsla w 1912

 

Author is holding a position in Amazon

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)
Full disclaimer (https://www.home.saxo/legal/saxoselect-disclaimer/disclaimer)

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15
2900
Hellerup
Denmark

Contact Saxo

Select region

International
International

Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.

Apple and the Apple logo are trademarks of Apple Inc, registered in the US and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.